2. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
2
At the forefront 3
Welcome 4
Aston Martin
Aston Martin DB9 5
Aston Martin V8 Vantage 8
Bentley
Bentley Arnage 11
Bentley Azure 13
Bentley Continental GT 15
Bentley Continental GTC 18
Bentley Flying Spur 21
Ferrari
Ferrari F430 23
Ferrari 599 GTB Fiorano 26
Ferrari 612 Scaglietti 28
Porsche
Porsche 911 30
Rolls Royce
Rolls Royce Phantom 34
Service and maintenance insight 37
Clive Sutton’s top cars 39
Future focus 41
Methodology 44
Summary 46
Contents
CONTENTS
3. 3BACK TO CONTENTS
The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3
T
he top end of the car
market has, during the past
year, undergone its biggest
upheaval in decades.
From the highs of 2005-2007, to the
dramatic plunges later in 2008, many
car dealers say they’ve witnessed
drama on a never-before-seen scale.
Nowhere were the implications of
this plunge more sorely felt than the
premium car arena. Owners found that
cars they’d paid premiums for, without
long term ownership intentions, were
now costing them dearly, and it was
simply uneconomic to sell. Despite
this, the classified ads were packed
with temptingly priced exotica, from
Aston Martin to Pagani.
This is why we thought it time to
take stock – in a way never before
attempted.
Clive Sutton is an industry expert
with decades of experience in the
industry. Here, he has taken a long
hard look at the premium car market
– right now.
He’s looked at asking prices, and
trade prices. He’s investigated
servicing costs, warranty demands,
insurance rates. He’s looked into the
recall history of cars. He’s even hooked
into the dealer bulletin system, to
uncover the faults you don’t normally
hear about.
Of course, he’s also spoken to fellow
dealers. Tapped into the thoughts of
his very own customers. And now, he
offers all this to you, in his first ever
Market Report.
All this, we feel, has produced the
most exhaustive review of the market
yet. Want to know exactly which cars
are hot, and which are not? Where
the smart money is going, and where
you should steer clear? Want to find
out the true picture of the bargains
out there?
Then, read on. Clive Sutton’s Luxury
Car Market Report gives you all that,
and more.
If you’ve ever dreamed of owning
a supercar, Clive and the Luxury Car
Market Report are here to show you
how to make that a reality – without it
turning into a nightmare…
At the forefront
At the forefront
“Clive Sutton is an industry expert
with decades of experience in the
industry”
4. 3BACK TO CONTENTS
The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
4
F
or over 25 years, I have
been at the forefront of
the luxury and performance
car industry; originally as
an independent dealer and then,
having built up a successful group of
franchised dealerships, returning to
the independent market six years ago.
In this time, I’ve seen many changes
– but few have been on the scale of
the past few months.
This is why I have decided to bring
you a unique look into the much-
changing luxury and performance car
market.
In putting together this Luxury
Car Market Report, I will be sharing
my direct experience and first hand
knowledgeofthechangingpremiumcar
world. This will give you an insight into
the discoveries and trends we spot in
offering new, used and rare luxury cars
worldwide here at Clive Sutton.
Buyers and sellers put me to the
test every single day. Which means
I’m learning things all the time. Here,
I give you some of that insight.
Certainly car retailing is changing.
The market is different today to what
it was just six months ago. And is set
for big change in the future, too.
We are moving and diversifying with it.
This is why we are developing
in many new areas. Our exclusive
premium car brokerage service, for
example, takes the hassle out of your
search for the right car. Basically, we
do all the legwork, sourcing you a car
in pristine condition, fully serviced
and ready to go.
We can also sell your car this way
too – and help you prepare it to get
the best possible price. We deal with
the buyer and act as your personal
agent, taking away the hassles of selling
privately without having to accept low
trade prices. It is an exclusive one-on-
one service that reflects the level of
personalisation people now demand
from the motor industry.
This first publication of the Clive
Sutton Luxury Car Market Report
provides a comprehensive review of
the luxury car market. We investigate
up-to-date pricing, and the pros and
cons, for core models from Aston
Martin, Bentley, Porsche, Ferrari and
Rolls Royce.
I hope you find my Market Report
interesting. My aim is for it to be
the first of many, so if you like this,
look out for more of the same in the
future.
Welcome
Welcome
Clive Sutton, June 2009
5. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
Aston Martin
DB9
5
D
B9 buyers tend to be a bit
more traditional ‘Aston
Martin’ than V8 Vantage
buyers. They’re less likely
to be early adopters, seeking the
latest thing, and so generally keep
the cars longer. Apart from the early
launch cars, which were resold at
a premium, there’s less churn, and
fewer owner changes recorded in the
logbook early on.
Even so, the first DB9 Coupés (and,
from 2005, the Volante convertibles)
do show higher mileages than later
cars. That’s because they were
bought by people swapping out of
911s and Mercedes SLs.
The trouble is, in some ways, those
early cars were unable to live up to
this Teutonic ideal. They were not
entirely trouble free, while some
of the switchgear was fiddly. It was
very hard, for example, to work the
onboard telephone. It took them until
the 2008 model to replace the heater
controls with the larger, clearer ones
from the DBS.
You must be careful with colours.
As a rule of thumb, you’re safe with
anything silver, grey or black. This is
due to the James Bond connotations.
Green, which you’d think would be a
dead cert, is actually something of
a double-edged sword. Aston does
a lovely pale silver-green, which
suits the car well. However, while
it’s traditionally British for some
people, others are influenced by
superstition…
Very bright colours, such as yellow
or red may work in Miami but not
in Mayfair. Even white, which has
become fashionable again on a
number of brands does not work
particularly well with Aston Martin.
Moving inside, early imported
cars are sometimes identified by a
Cognac-coloured interior. This was
a colour scheme that is popular in
Europe, and thus recommended as a
‘must have’ by EU dealers. Trouble is,
this is not the case in the UK! It’s only
recently that we’ve seen this interior
gain any sort of interest… for me, it
works best with sober colours, such
as dark blue. You can even specify
the colour of the seat stitching and
where silver stitching in a grey or
black seat is desirable, red stitching
can put many people off.
Also, a number of cars were specced
up with a red or burgundy interior.
These colours do work with black,
silver or grey exteriors, but are less
popular, and will therefore cause a
car to be less desirable.
Clive Sutton
Market Price
from £48,000
(typical 2004 model,
20,000 miles)
Aston Martin DB9
6. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
Aston Martin
DB9
6
In 2005, piano black wood veneer
became available. When combined
with black leather and a silver exterior,
this instantly made it more of a younger
man’s car - widening the DB9’s appeal
(older buyers who still wanted to feel
young were drawn to such models…).
Compare such a car to, say, a blue
model, with magnolia leather, and a
traditional wood interior. The ‘net’
of prospective buyers is much more
restricted there.
A word on the DBS: even James
Bond couldn’t afford this! The DBS is a
very special version of the DB9, sure -
but is it really worth £50k more? The
market doesn’t think so.
With it, Aston Martin took the DB9
to the tuners, and put it on steroids.
While it looked good, the pricing was
undeniably ambitious. Apart from
the early cars, it’s quickly become
discounted - it’s just not seen as a
£170k car. Early manuals are now
sub £130k, although the more recent
automatic is holding up a bit better.
If you really want one… well,
you’re better off buying a DB9 with
a raft of revisions, and pocketing the
difference. It’s simply a better buy.
Values
Buyers like the DB9 because it’s seen
as a proper Aston. The Top Gear ‘Cool
Wall’ effect has helped, too. It’s seen
as a rival to the Bentley Continental
GT and GTC, although with less
interior space and token rear seats.
I say prices start at £48,000 for
one of the first 2004 cars. That’s
pretty much in line with what the
market is asking, with mileages quite
reasonable at around 21,000. 2005
cars are valued at around £55,000 -
again, quite in line with the market
price. £5,000 more buys a DB9 Volante
- surprisingly, advertised mileages are
higher here, probably because of the
early adopters who used the cars as
daily drivers. Remember these early
cars will be out of warranty and that
my prices are for cars in service and
without known major issues.
Going forward, the gap between the
Coupé and Volante is not as large as
some think. Certainly, sellers don’t
mark up any difference in some cases
- I reckon the Volante is worth around
£2,000 more for older cars, but the
higher mileages they’ve covered has
to be considered here.
Looking to options, for cars up to
three years old, you can expect to
pay 30 per cent of the original cost for
sensible ones. Other options such as
upgraded wheels and parking sensors,
heated seats and audio are worth
about 20 per cent of the new cost.
After that, the value declines. And,
as for more personal options such as
bespoke leather, you really shouldn’t
be paying much extra at all. The seller
may think they’re worth a lot extra,
but the market doesn’t.
average VALUE [DB9]
£100,000
£0
2004
(22,000 miles)
2005
(19,000 miles)
2006
(14,000 miles)
2007
(12,500 miles)
2009
(2,500 miles)
2008
(4,500 miles)
MARKET
AVERAGE
TRADE BOOK
VALUE
TRADE VALUE ADJUSTED
FOR MILEAGE
SUTTON MARKET
PRICE
£25,000
£50,000
£75,000
average VALUE [DB9 VOLANTE]
£120,000
£0
2005
(25,000 miles)
2006
(15,500 miles)
2007
(11,000 miles)
2009
(3,000 miles)
2008
(10,000 miles)
£30,000
£60,000
£90,000
MARKET
AVERAGE
TRADE BOOK
VALUE
TRADE VALUE ADJUSTED
FOR MILEAGE
SUTTON MARKET
PRICE
7. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
Aston Martin
DB9
7
Credit Crunch aside, new demand
for the DB9 has been affected
significantly in the past year. Really,
it’s due a shape change: something
‘new’ is needed, as it’s been in the
market place now for quite a long
time. As Ferrari is bringing out the
F430 replacement soon so too should
Aston Martin for the DB9. A ‘DB10’
is required to bring some of the early
adopters back!
Although nearer to the Vantage V8 in
price, I’ve taken orders for a number
of brand-new Jaguar XKRs from buyers
who used to own a DB9. The Jag is
spun from the same design DNA but can
now rival the DB9 with 500bhp. This
is because as they no longer share the
same parent company, Jaguar’s able
to compete in Aston’s market place!
Overall, I’d say the Jaguar is a better
car, less edgy and better built with
higher tech controls and crucially 65
per cent of the price of the Aston. Now
it’s not just the credit crunch that’s an
excuse for trading down to the Jag.
Things to consider
Camcover gaskets can leak•
Electric windows lose their•
memory setting - to fix, it needs a
new control unit which should have
been fixed under warranty
Damage to the gearbox means the•
automatic’s ‘Park’ mode does not
engage, despite the dash indicator
saying so. This causes a roll-away
risk. Aston franchised dealers
issued a recall to fix the problem,
from 2005
There are two premium stereo•
upgrades: in Volantes, you may
wish to search for the top-line Linn
system. New, this costs around
£3,000, but really does help audio
quality when driving with the roof
down. It’s probably worth £500-
£1,000 on the second hand market,
so long as it is the top-line system
Alarmingly, navigation was an•
option on the early DB9s. It’s not a
great system, to be honest, but it’s
still something of a must-have.
The DB9 averages a reasonable•
£1,679 for servicing - cheaper than
all but the Porsche 911, as well as
Bentleys and Ferraris!
Insurance quotes are very•
reasonable - there’s barely a jump
over the V8 Vantage… although
that could be more of a reflection
of the younger, early adopter-type
of buyer drawn to the V8
Extending the warranty for•
12 months is reasonable at £1,724
“New demand for the DB9 has been
affected significantly in the past
year. Really, it’s due a shape change...”
average running costs
INSURANCE1 INSURANCE
NO CLAIMS2
EXTENDING
WARRANTY3 SERVICING4
£4,500
£0
£3,000
£1,500
DB9
DB9 VOLANTE
KEY
1. based on male, 45yrs of age, with no previous
claims and vehicle is kept in garage
2. based on maximum no claims bonus of 70%
3. based on 12 months
4. based on assumption that new tyres are
included in the service every two years
8. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
Aston Martin
V8 Vantage
83BACK TO CONTENTS
Clive Sutton
Market Price
from £38,000
(typical 2005 model,
33,000 miles)
T
he V8 Vantage is a British
sports car that would be a
step up from a modern day
TVR. During development,
Aston Martin prioritised ease of use
and cheap running costs, and it’s paid
off. It is bought by some of the same
people who, had TVR still existed,
would have bought one of those – in
terms of prices, it’s pretty much at a
level TVRs would have been at now,
anyway.
A more important customer group
are the early buyers who switched out
of Porsche 911 and Mercedes Benz SL
55 AMG. A number have since migrated
back to German cars, as the beauty and
sound of the Vantage were not enough
to keep them in the Aston.
Early V8s tended to be bought by
early adopters, with no intention of
keeping the car for long. It means
there can be quite a few ownership
changes early on, but this isn’t
something the market worries
about. It’s accepted, because of
the car it is.
Even so, I’m surprised at the high
mileages of some cars – but pleased.
It shows Aston’s desire to make this its
affordable offer has paid off. It lacks
the token rear seats that make the 911
so surprisingly practical.
In my opinion, the V8 is all about
the looks and the sound. The noise
it makes is absolutely fantastic, and
the 2008 420bhp 4.7-litre cars are
very drivable, engaging machines.
Personally, I found the gearing on
4.3-litre cars to be compromised
– too many gear changes were
needed – but this is not an issue on
the 4.7-litre models. It’s also worth
noting that the Sportshift semi-auto
software was updated for 4.7-litre
cars. It’s smoother, but still not quite
the finished article.
Those 2007 Sportshift cars in
particular, received a mixed reaction.
Car buyers tell me they’re lukewarm
about semi-autos. They’re neither
one thing nor the other, lacking the
smoothness of a full auto and the
involving control of a manual.
As for colours, buyers want the
James Bond look – which means that
Tungsten Silver and Meteorite Silver
Grey take more than half of sales. If
you do want something else – well,
you can get away with blue, and
we’re beginning to see a few brave
buyers taking up white. Red, though,
is an absolute no-no.
Astonoffersabespokepaintservice,
meaning you can choose any colour
you like. For example, some buyers
Aston Martin
V8 Vantage
9. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
Aston Martin
V8 Vantage
93BACK TO CONTENTS
specified Ferrari or Bentley colours.
The trouble is, the configurator at
franchised dealers was poor – it was
little more than a box of colour samples
and leather trim cuttings. This made
it hard for car buyers to visualise the
final result of their choices… meaning
some of those early adopters chose
colour combinations that, today, are
virtually un-saleable. I’ve seen bright
red interiors, totally mis-matched to
the exterior colour…
Values
I say 2005 cars with average mileages
start at around £38k. The average
advertised price may be the wrong
side of £40k, but this is too much, in
my opinion. Buyers should definitely
be negotiating with these cars. With
most being out of warranty, the
service and condition are key factors
to consider when making an offer.
The average asking price of a 2006
car, with around 17,000 miles on the
clock, is £50k. I’d say this should be
more like £45k, unless it’s absolutely
exceptional. Most early cars were
heavily specced by speculators and
they often ticked lots of options boxes,
which can sway advertised prices, but
I’d be careful in paying much extra
now. Here, I’ve assumed an average
spec car, with must-haves such as
satellite navigation and phone kit.
As cars get older, options become
less about value, and more about
the difference between the car selling
or not.
As for V8 Roadsters, available from
2006, they start at £63k for 2007
cars. Generally, you can expect to
add on around £5k-£8k for Roadsters.
There’s little difference here in
average mileages, again due to the
V8’s early adopter attraction, plus
its enhanced usability.
Towards the end of last year, in
order to clear out unsold stock, it was
possible to buy a new 4.3 V8 for under
£70,000 – these cars were quickly
snapped up. It has had an impact on
2008 values, though – my estimate is
that you can get a 2008 model for mid-
£60k. These cars represent a LOT of
value for the money… if you can find
one. The decline in the new car market
means there are not many out there.
Furthermore, I’ve taken orders for
a number of brand-new Jaguar XKRs
from buyers who used to own an
Aston. Now, the company’s offering
the 500bhp XKR: because they
no longer share the same parent
company, Jaguar’s able to compete in
Aston’s market place!
Overall, I’d say the Jaguar is a better
car, it’s better built, from more solid
materials. Crucially, the price is 65
per cent of the Aston – but it’s not just
the credit crunch that’s an excuse for
trading down to the Jag.
Overall, my best Aston V8 Vantage
buy would be a 2008 manual Coupé. At
£65k, you really can’t go far wrong.
average VALUE [V8 ROADSTER]
£0
2007
(8,000 miles)
2008
(3,000 miles)
2009
(2,500 miles)
average VALUE [Vantage v8]
£90,000
£0
2005
(34,000 miles)
2006
(17,000 miles)
2007
(8,000 miles)
2008
(4,000 miles)
2009
(900 miles)
£30,000
£60,000
£90,000
£30,000
£60,000
MARKET
AVERAGE
TRADE BOOK
VALUE
TRADE VALUE ADJUSTED
FOR MILEAGE
SUTTON MARKET
PRICE
MARKET
AVERAGE
TRADE BOOK
VALUE
TRADE VALUE ADJUSTED
FOR MILEAGE
SUTTON MARKET
PRICE
10. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
Aston Martin
V8 Vantage
103BACK TO CONTENTS
Things to consider
Camcover gaskets often leak•
1st and 2nd gear synchromesh in•
early cars are troublesome. This
should have been fixed under
warranty
Roadsters are more expensive to•
insure, which can be a reflection of
the type of driver, the sort of use
they get, and possible attraction
of vandals. They’re a bit more of a
weekend car than the Coupés
There may be very attractive•
leasing deals still available on
brand-new V8s, which is having
an impact on nearly new prices
Main dealer servicing costs are•
one of the most affordable of all
supercars here, at £1,442. This fits
in with Aston’s aim to make running
costs affordable.
Extending the warranty is half the•
price of doing so on a Ferrari, at
£1,724, but a Porsche is cheaper still
“Main dealer servicing costs are
AMONGST the most affordable of
all supercars”
average running costs
INSURANCE1 INSURANCE
NO CLAIMS2
EXTENDING
WARRANTY3 SERVICING4
VANTAGE V8
VANTAGE V8 ROADSTER
KEY
1. based on male, 45yrs of age, with no previous
claims and vehicle is kept in garage
2. based on maximum no claims bonus of 70%
3. based on 12 months
4. based on assumption that new tyres are
included in the service every two years
£6,000
£0
£4,000
£2,000
11. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS Bentley Arnage 11
T
he famous Bentley Arnage
really has stood the test of
time well. It has to be the
6.75-litre V8, though. In
the trade, we don’t really talk about
those cars that came before this. Early
Green Label cars with the small BMW
engine have been supplanted by the
Red Label 6.75-litre V8, resurrected
and still originating from production
that started 50 years ago.
The turbo charged 6.75-litre V8 has
been progressively upped in power,
from 400bhp to 450bhp and, from
2007, to 500bhp (in the Arnage T).
The massive low end torque provides
effortless pull away and overtaking. It
has the silky-smooth, waft-along ride
that buyers expect from this type of
Bentley.
The latest cars have more
controlled suspension replacing the
traditional ‘wallow’ of earlier cars,
with smoother ride and less body roll.
The Arnage offers supreme comfort,
excellent climate control and about
the finest interior on the market.
The ‘Mulliner’ is an optional pack
of upgraded diamond quilted hide
interior and various billet metal
finishers, trimmings and wheels.
There are two core versions; the
Arnage R and the Arnage T. The
R is the more refined and opulent
version, whilst the Arnage T offers a
more sporting experience, using the
500bhp motor instead of the Arnage
R’s 450bhp. There is also the Arnage
RL; a long wheel base version adding
10 inches of additional space to the
rear cabin.
The Arnage R is the more traditional
flavour, so be sure to choose classical
colours here. Anything too avant-
garde just doesn’t work. Only the
brave and outgoing went for red,
which truth be told are harder to re-
sell. Safe conservative colours are
most common such as an elegant dark
metallic blue, with complementary
magnolia leather and burr walnut.
The Arnage T is the higher
performance ‘sportier’ version,
and is often seen in contemporary
colour schemes and all-black colours
with piano black and aluminium
dashboards.
It’s the last bastion of traditional
Englishness - particularly now Bentley
has announced the Bentley Arnage
Final Series. These will be the last 150
cars to be produced worldwide. Buyers
are thinking there will not be another
car like it. They’re probably right.
Indeed, it is these attributes that
have ensured that it has continued -
Clive Sutton
Market Price
from £55,000
(typical 2004 model,
42,000 miles)
Bentley Arnage
12. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
and thrived alongside the far newer
Flying Spur four-door saloon. It is an
‘old money’ statement, which appeals
to captains of industry, entrepreneurs
and self-made men in equal measure.
Many buyers have one of these
alongside a Ferrari, rather than
instead of.
Values
I find there is lots of interest for clean
Arnages, mainly in the £60k-£100k price
range. You can buy a low mileage 2004
Arnage from between £55k-£60k. Asking
prices are much higher than this, but
there is no need to over pay.
Two year old Arnages are now
available for under £100k. That’s half
of the new cost, and only £15k less than
a new Flying Spur, but this is a better
defined proposition that has much more
presence. Such 2007 models really do
represent strong buys. There is also
less choice on the market as the late
low mileage ones at the right money
are being snapped up quickly.
Bentley Arnage 12
“2007 models really do represent
strong buys...”
average VALUE [BENTLEY ARNAGE]
£160,000
£0
2004
(42,000 miles)
2005
(32,000 miles)
2006
(17,500 miles)
2007
(15,000 miles)
2009
(600 miles)
2008
(3,500 miles)
£40,000
£80,000
£120,000
average running costs
INSURANCE1 INSURANCE
NO CLAIMS2 SERVICING3
KEY
1. based on male, 45yrs of age, with no previous
claims and vehicle is kept in garage
2. based on maximum no claims bonus of 70%
3. based on assumption that new tyres are
included in the service every two years
£6,000
£0
£4,000
£2,000
MARKET
AVERAGE
TRADE BOOK
VALUE
TRADE VALUE ADJUSTED
FOR MILEAGE
SUTTON MARKET
PRICE
13. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS Bentley Azure 13
A
s for the Arnage’s two-door
convertible bedfellow, some
buyers get a little confused
bytheAzure.That’sbecause
it was sold in the late 1990s, and then
ceased production in 2003, only to
return in 2006. It’s the later cars I’m
looking at here - and they really are
quite special motor cars.
Less dynamically capable than the
GTC, the Azure nevertheless offers
the wafty V8 with a magic carpet ride.
Old-fashioned and boat-like, from a
bygone era, that the Azure delivers
a level of exclusivity and style from a
vehicle of such bulk, is a feat.
These ‘phase 2’ cars are based
on the chassis of the Arnage, which
brings the 450bhp twin-turbo version
of the famous V8 engine. They
benefitted from much re-engineering
to Volkswagen standards, and of
course show an extremely high
standard of finish.
The latest variant is the 2009 Azure
T, offering the 500bhp motor and
20-inch wheels. The Azure T also
comes with an option for the largest
brake discs in the world made for a
passenger car, finished in carbon/
ceramic and cross-drilled. It’s a very
special motor car.
There are only ever a handful of
these cars out in the market place,
such is its exclusivity, but they still
have a fiercely loyal and strong
following. Because, other than the
Phantom Drophead there’s nothing
like it, people really are committed
to the car. It’s the signature four-
seater convertible for trips to the
French Riviera!
Even now, you still need to be
spending £135k-£140k to get a
three year old model. This makes it
around twice the price of a Bentley
Continental GT of the same age, and
circa £40k more than a Ferrari 612
Scaglietti. By and large, an Azure will
cost you £40k more than a similar age
Arnage.
For those who find even this not
quite exclusive enough, Bentley also
offers the Brooklands coupé. A ‘snip’
at £225,000 when new, it boasts a
fearsome 530bhp, and a staggering
torque figure of 1050Nm. Bentley has
committed to build no more than 550
during the car’s lifetime. Exclusivity
and an ‘experience’ guaranteed.
Clive Sutton
Market Price
from £135,000
(typical 2006 model,
6,000 miles)
Bentley Azure
14. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
What to look for
Although only now available as•
a derivative in its own right,
specially ordered Mulliner features
enhanced desirability of the hand-
crafted interior
Bentley didn’t help itself on the•
Azure, by changing the automatic
gearbox a year after launch.
The first cars were four-speed
models, but after a year, this was
superseded by the much superior
ZF six-speed. Pre-2007 cars had the
four-speed and the market prices
them downwards accordingly
Small numbers in the market place•
mean prices can be a bit fickle. It
only takes one car priced a bit out
the ordinary to set the average
prices out
Bentley Azure 14
“The Azure T also comes with an
option for the largest brake discs
in the world...”
average VALUE [BENTLEY AZURE]
£350,000
£0
2006
(17,500 miles)
2007
(22,500 miles)
2008
(14,000 miles)
2009
(1,500 miles)
£75,000
£150,000
£225,000
average running costs
INSURANCE1 INSURANCE
NO CLAIMS2 SERVICING3
KEY
1. based on male, 45yrs of age, with no previous
claims and vehicle is kept in garage
2. based on maximum no claims bonus of 70%
3. based on assumption that new tyres are
included in the service every two years
£6,000
£0
£4,000
£2,000
MARKET
AVERAGE
TRADE BOOK
VALUE
TRADE VALUE ADJUSTED
FOR MILEAGE
SUTTON MARKET
PRICE
15. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
Bentley
Continental GT 15
Clive Sutton
Market Price
from £47,000
(typical 2004 model,
32,000 miles)
T
he Bentley Continental GT is
one of the most dependable
supercars you can buy. It has
huge performance from the
W12 engine, yet superb components
and build means it easily absorbs the
high mileage owners put on it. Seeing
cars that have covered many miles is
not uncommon, and reflects its easy
drivability and dependability.
Early Continental GTs are now down
to below £50k - this is bang on the
money and, coincidentally, almost
level pegging with the Aston Martin
DB9. This trend continues through the
years, too, which is entirely in line
with what this car is. It’s Bentley’s
alternative to the DB9, and buyers of
one often consider the other, too.
Lower mileage Continental GTs do
tend to hold their values much better.
In fact, these have hardened up over
the past few months, as many buyers
have switched from buying new to
used. The stock of available new cars
has reduced considerably as heavy
discounting has launched most into
the market. The company realises that
a short term sales benefit could have
longer term implications in erosion
of values and consumer appetite to
order new ones.
The Speed version, which arrived in
2007, is a very worthwhile addition to
the range. The standard car is hardly
slow - it’s still a 6.0-litre W12 model,
after all - but the Speed gives just that
little bit extra, both visually and on
the road, with steering and handling
tweaks, without costing a fortune to
buy. Bentley has been much smarter
here than Aston Martin, which priced
itself out of the market with the DB9-
based DBS.
Bentley has benefited from the VW/
Audi DNA. While some people criticise
the instruments for looking too VW
Group, and the model sharing a few
buttons, it hasn’t proven detrimental
to the car in service. They’re solid,
reliable, well made parts, and give
the car a Teutonic feel that Aston
Martin lacks. They’re also extremely
reliable.
Indeed, I’d go further, and say
high-mileage Continental GTs are
something you really shouldn’t fear.
So long as they’re properly serviced,
there’s not a single reason not to buy
because of high mileage.
Bentley
Continental GT
16. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
Bentley
Continental GT 16
Values
It is interesting how closely prices of
the GT mirror the Aston Martin DB9.
These two cars are natural competitors
with prices for early cars down to, in
my view, mid to late £40k’s. This is
some way shy of advertised prices of
2004 cars - to me, that reflects a bit
of naivety in the market.
Just because cars are being
advertised at that price does not mean
they’re being sold for that… there is
a big disparity between advertised
prices and trade guide prices, which
car buyers should be aware of! As
ever, cars are offered for sale in a
variety of service conditions. We have
seen some cars offered that have been
recently serviced, but still have a
number of reported and unauthorised
repairs outstanding.
I value a three year old Continental
GT at around £60k. At this price, car
buyers will have ample choice in the
crucial sub-£70k market place. There
is no shortage of Continental GTs out
there to choose from, but the low
mileage examples are getting harder
to find.
The standard Bentley colour palette is
very good. You’re safe with most blues,
blacks, silvers and greys - so long as you
have the right interior. I always stress to
buyers that they consider this carefully.
Certain external greens and internal
reds need to be approached with care!
As a rule, a dark exterior works well
with light interior, and vice versa.
The interior is offered with a choice
of colour for both the main and
secondary hides (secondary means
the top stripes of the door panels, the
rear shelf, centre console and the dash
top). This defaults to a colour that
tones with the exterior. Some people
have chosen the same colour for both,
and this can be over-powering. Also,
beware of cars with light coloured
dash tops. This can reflect into the
windscreen on sunny days.
Bentley also offers a wide selection
of interior wood veneer finishes. Safe
traditional dark burr walnut finishes
provide the traditional feeling of
opulence. A modern meaner look is
offered with the piano black lacquer
and aluminium dash options, but these
only work well with contemporary
Teutonic colours. There are also some
‘off the wall’ veneer options, such as
elm burr and even mahogany, which
look yellow and red… and are not
popular.
Really, prices reflect common sense.
This is something that’s true for all
cars in this sector and price bracket.
You CAN be brave, but if you want to
be, you’ll have to pay.
If buyers tell me they really do
want to stand out, but aren’t quite
brave enough to go for something
too crazy, I tell them to go for white.
It’s something of an ‘in’ colour at the
moment, and usually has the desired
effect and ‘wow’ factor…
average VALUE [CONTINENTAL GT]
£140,000
£0
2004
(32,000 miles)
2005
(24,000 miles)
2006
(21,000 miles)
2007
(13,000 miles)
2009
(1,000 miles)
2008
(8,000 miles)
£35,000
£70,000
£105,000
MARKET
AVERAGE
TRADE BOOK
VALUE
TRADE VALUE ADJUSTED
FOR MILEAGE
SUTTON MARKET
PRICE
17. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
Bentley
Continental GT 17
Things to consider
Bentley recalled thousands of•
2004-2008 Continental GTs. It was
found road salt could corrode the
fuel filter, which would eventually
cause it to leak - a dangerous fault,
that Bentley fixed from June 2008
Low tyre pressure sensors can flash•
erroneous warning lights. This is
due to faulty tyre valves
Airbag warning lights can flash,•
because of a faulty driver’s airbag
squib
Dead leaves can fill the front scuttle•
panel, blocking it, and causing the
bulkhead to fill with water
Continental GT insurance averages•
out a little below a Porsche - this
could be a factor in affordability
considerations for buyers of early
sub-£50k cars
The car’s dependability is reflected•
by a reasonable servicing cost.
“The standard Bentley colour palette
is very good. You’re safe with most
blues, blacks, silvers and greys...”
average running costs
INSURANCE1 INSURANCE
NO CLAIMS2 SERVICING3
KEY
1. based on male, 45yrs of age, with no previous
claims and vehicle is kept in garage
2. based on maximum no claims bonus of 70%
3. based on assumption that new tyres are
included in the service every two years
£6,000
£0
£4,000
£2,000
18. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
Bentley
Continental GTC 18
Clive Sutton
Market Price
from £75,000
(typical 2006 model,
19,000 miles)
T
he popular drop-top
Continental GTC is a very
credible alternative to
the GT Coupé. The GTC is
surprisingly more practical than the
Coupé. When people tell me they’ll
be wanting to carry a third or fourth
person regularly, I advise them to go
for the GTC. That’s because the hard-
top has the centre console extended
between the rear seats. The GTC
doesn’t have this, so gives people
more space to spread out.
More people buy GTCs as weekend
cars, so the mileages tend to be
that bit lower than for the GTs. The
market factors this into valuations
- I certainly have with the cars I’ve
looked at here. But I still would have
nothing to fear from a higher mileage
GTC, such is the integrity of the car
- so long as it was reflected in the
price. Currently, the price decreases
by about £10k for 10,000 miles more
on the clock.
The Speed model is very important
for Bentley, particularly with the GTC.
Why? Two main reasons are a trade up
opportunity for existing GTC drivers,
and the imminent arrival of the Ferrari
California. This model is likely to set a
new benchmark in the sector - and its
natural competitors are clearly going
to be the Aston Martin DBS Volante
and the GTC Speed.
Of the two, the Speed version of the
GTC is a more clear-cut alternative;
again, the DBS is simply too expensive
to be taken seriously at £20k more
than the Ferrari’s market-defining
price.
I’d imagine GTC buyers will be
very tempted indeed by the Ferrari;
with the Speed, Bentley may just
have done enough to keep them in
the brand. Remember too, it has
those commodious rear seats; in this
respect, the Aston and Ferrari are
more restricted.
Bentley also has a very well
developed personalisation service.
This is particularly relevant for open-
top cars, where owners may be more
tempted to indulge.
Bentley
Continental GTC
19. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
Values
I say you can get a 2006 GTC for £75k
- this is perfectly in line with what
advertisers are asking in the market
place. It’s also edging closer to the
all-important £70k barrier, bringing it
into the reach of many more buyers.
Simply put, more people will start to
consider it a viability. With summer
upon us, and the availability of cars
thinning out, I can see these going up
in value over the next few months.
The first GTCs were bought by early
adopters. These will naturally have
higher mileages. Indeed, we see this
in our researched values. There’s a
big decline in annual mileages as you
move into newer cars. That’s because
later cars tend to be bought as second,
‘weekend’ cars instead so naturally
get driven less.
A popular colour that really sold
well on the GTC was Silver Lake. This
is the ‘brochure’ colour, seen in all
the original release material, and
works superbly on the GTC. Mind you,
the standard Bentley colour palette
is very good. You’re safe with most
blues (such as Sapphire Blue), blacks,
silvers and greys - so long as you have
the right interior. I always stress
to buyers that they consider this
carefully! Certain external greens and
internal reds need to be approached
with care.
As a rule, a dark exterior works well
with a light interior, and vice versa.
The interior is offered with a choice of
colour for both the main and secondary
hides (secondary means the top stripes
of the door panels, the rear shelf, centre
console and the dash top). This defaults
to a colour that tones with the exterior.
Some people have chosen the same
colour for both, and this can be over-
powering. Also beware of cars with light
coloured dash tops. This can reflect into
the windscreen on sunny days…
Bentley also offers a wide selection
interior wood veneer finishes. Safe
traditional dark walnut and burr
finishes provide the traditional feeling
of opulence. A modern meaner look is
offered with the piano black lacquer and
aluminium dash options, but these only
work well with contemporary Teutonic
colours. There are also some ‘off the
wall’ veneer options, such as elm burr
and even mahogany, which look yellow
and red… and are not popular.
On the GTC, brighter (but still
subtle) metallics tend to be seen more
frequently, again a reflection of the
car’s more leisure-orientated use. Also
a wise choice of hood colours allows
matching with exterior colours.
The brave out there will go for white;
with a good set of wheels, this is a
reasonably safe choice in the current
market - but buyers should remember
that tastes and fashion can change…
Bentley
Continental GTC 19
“A popular colour that really sold
well on the GTC was Silver Lake.”
average VALUE [BENTLEY CONTINENTAL GTC]
£140,000
£0
2006
(19,000 miles)
2007
(8,500 miles)
2008
(3,500 miles)
2009
(400 miles)
£35,000
£70,000
£105,000
MARKET
AVERAGE
TRADE BOOK
VALUE
TRADE VALUE ADJUSTED
FOR MILEAGE
SUTTON MARKET
PRICE
20. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
Things to consider
Bentley recalled thousands of•
2005-2008 Continental GTCs. It was
found road salt could corrode the
fuel filter, which would eventually
cause it to leak - a dangerous fault,
that Bentley fixed from June 2008
Low tyre pressure sensors can flash•
erroneous warning lights. This is
due to faulty tyre valves
Airbag warning lights can flash,•
because of a faulty driver’s airbag
squib
Dead leaves can fill the front scuttle•
panel, blocking it, and causing the
bulkhead to fill with water
The roof position sensors can be•
faulty, leading to problematic
electric roof operation.
The GTC costs significantly more•
to insure than the GT Coupé. This
is due to the profile of buyer, the
cars’ intended use, and also the
greater vandalism threat and cost
of repairing the roof
Bentley
Continental GTC 20
average running costs
INSURANCE1 INSURANCE
NO CLAIMS2 SERVICING3
KEY
1. based on male, 45yrs of age, with no previous
claims and vehicle is kept in garage
2. based on maximum no claims bonus of 70%
3. based on assumption that new tyres are
included in the service every two years
£7,500
£0
£5,000
£2,500
21. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
Clive Sutton
Market Price
from £50,000
(typical 2005 model,
27,000 miles)
T
he Flying Spur struggled a
little at launch. Looking a
lot like a large Rover 800
didn’t help. But, I must be
fair; the market has grown to like it
over the years, as it does a very good
all-round job.
ItdrawsheavilyfromtheContinental
GT and GTC, and shares the same W12
engine. This gives it effortless pace,
boosted by the addition of the 600bhp
Speed version. There has been less
take up of the Speed variants here,
as sales have not reached the high
percentage of new model mix seen
on, say the GT Coupé.
What the Flying Spur lacks is the
smoothly wafting ride of the Arnage
- its Teutonic, controlled composure
is not really what buyers expect from
this type of Bentley. Early cars also
suffered a bit too much road noise in
the back, although the latest models
have rectified this.
They also offer greater
personalisation inside and out, that
the more traditional coach built
Bentleys do so well with such items as
rear picnic tables. There are also core
coachbuilder options on the list, such
as two-tone paint, rear electric seats
and refrigerated bottle coolers.
Values
Used Flying Spurs can now be bought
for south of £50k. Believe me, this
is an exceptional buy. Unbelieveably
you can now embrace the Bentley
brand for the same cost as a Jaguar
Sovereign or a BMW 7 series. In fact
many buyers looking at these cars,
or the new BMW 7 Series, Mercedes
S-Class or Audi A8 are surprised that
a good used Bentley Flying Spur could
also be theirs for similar money.
This is when the car really starts to
appeal.
It’s more of a functional car
rather than a traditional Bentley
‘statement’, but in terms of value
for money, such second hand models
take some beating. It’s the Bentley
that also makes an elegant, rational
choice, too.
A year-old car can be purchased
from just under £100k. This will get
car buyers one of the first face lifted
models, with the quieter rear cabin
and greater personalisation. The
latest cars have extensive options
for Naim hi-fi systems, rear seat
DVD/TV and three different rear
seating configurations. These could
Bentley Continental
Flying Spur
Bentley
Continental
Flying Spur
21
22. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
be considered alongside a three year
old Arnage, but buyers are unlikely
to do this. They appeal to different
sectors.
A more relevant comparison is to
look at Flying Spur prices alongside
Continental GT values. They’re very
similar across the years - and a Flying
Spur is more likely to be considered
by the Continental GT buyer seeking
extra practicality, passenger room
and boot space.
The advice I have given for the
Continental GT as far as colour and
trim choices is completely applicable
for the Flying Spur too.
Things to consider
Low tyre pressure sensors can flash•
erroneous warning lights. This is
due to faulty tyre valves
Airbag warning lights can flash,•
because of a faulty driver’s airbag
squib
Dead leaves can fill the front scuttle•
panel, blocking it, and causing the
bulkhead to fill with water
Cars can have four-seater option•
which is expensive when new, but
not practical if you need a full five-
seater
Look into the car’s history as a•
number of Flying Spurs are used
as chauffeur driven and privately
owned examples are more
desirable
Bentley
Continental
Flying Spur
22
average VALUE [CONTINENTAL FLYING SPUR]
£180,000
£0
2005
(25,000 miles)
2006
(15,500 miles)
2007
(11,000 miles)
2009
(3,000 miles)
2008
(10,000 miles)
£45,000
£90,000
£135,000
average running costs
INSURANCE1 INSURANCE
NO CLAIMS2 SERVICING3
KEY
1. based on male, 45yrs of age, with no previous
claims and vehicle is kept in garage
2. based on maximum no claims bonus of 70%
3. based on assumption that new tyres are
included in the service every two years
£6,000
£0
£4,000
£2,000
MARKET
AVERAGE
TRADE BOOK
VALUE
TRADE VALUE ADJUSTED
FOR MILEAGE
SUTTON MARKET
PRICE
23. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
Ferrari F430
Coupé and
Spider
23
Clive Sutton
Market Price
from £75,000
(typical 2005 model,
10,000 miles)
T
he Ferrari 360 was the first
real ‘no excuses’ Ferrari
- one that could work in
everyday driving conditions,
without punishing the owner or costing
them a fortune. The F430 really does
take this yet another step forwards.
Like the 360, the F430 is aluminium
bodied, but fitted with the 4.3-litre
V8 engine producing 483bhp.
They handle exceptionally well. It’s
like sitting in a big go-kart, with the
traditional F1 inspired mid-engined
layout. The rear wheel drive chassis
has a clever electronic differential,
which distributes the power to where
it is most required. With accurate
steering and exceptional brakes, the
F430 also has a surprisingly civilized
ride on all but very bumpy roads.
The F1 transmission is worth
focusing on. It’s not like the full
autos some buyers are used to, and
demands some concentration. It
has, however, virtually usurped the
manual model in terms of sales splits.
The six-speed self-shifter remains a
compelling option for those seeking
ultimate involvement - the change
is exceptionally tactile and precise,
the open-gate gearlever famous, but
nowadays, most prefer the F1 shift’s
convenience.
The special race-bred 430 Scuderia
may have no carpets and exposed weld
seams, but it also has an amazing F1
gearbox Superfast 2. The shift speed
is lightning fast - really, this incredible
‘box’ should be the default set up for
ALL F430s. It is a pointer of what we can
look forward to with future models…
In terms of road status, the Ferrari
is a substantial move on, even from a
Porsche. Mind you, as I tell car buyers,
it’s not really a daily driver, certainly
not ideal for London traffic.
The Ferrari F430 has two
mid-engined competitors, in the
Lamborghini Gallardo (at a similar
price point) and the Audi R8 (at
around 70 per cent of the Ferrari’s
new cost). That’s not forgetting the
now-discontinued Ford GT which,
even with left hand drive, has a
renewed following.
But NO other car offers the sense
of occasion a Ferrari does. And no
other car sounds quite like an F430.
The noise it makes is a massive part
of the appeal.
Red remains THE colour for sports
Ferraris. More recently, black or Nero
as it is more correctly named, has
proven popular too, while metallic
mid-grey is also very nice. As for
yellow - well, put it this way. I’d never
Ferrari F430
Coupé and Spider
24. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
put my money into it… I would with a
yellow Lamborghini, but not a Ferrari.
The Spider convertible version is
only marginally slower and, other than
a predictable small amount of scuttle
shake and a slightly softer chassis, is
virtually the same drive. The hood
takes about 20 seconds to go down, and
it is fully automatic.
There’s a distinct market split
betweenCoupésandSpiders.TheSpider
is more for the extrovert, and tends to
be bought by buyers coming to Ferrari
for the first time. The Modena Coupé is,
I reckon, the one with the purer lines,
and is the more classical looker.
As the Ferrari F430 model line draws
to the last production months, the
market anticipates the replacement
F450 at the Frankfurt show. However
the opportunity for serial new Ferrari
buyers to flip cars every nine to 12
months without material deprecation
has almost certainly gone. Ferrari are
generally masters at managing supply
behind demand, hence the fact that
most new Ferraris enter the market
at premium prices.This is currently the
case with the new California.
Even a few Scuderias, much in
demand only last year, can be found
sitting at dealers. Indeed, I can now
supply UNDER list price. And I certainly
couldn’t have done this last year.
What’s a wise buy, then? Well, it’s
a long-term thing, but I’d say buy a
Scuderia… and put it safely away! It’s a
guaranteed future classic. Only if you
can afford to, of course…
Although somewhat pointless in
terms of the race car, for sheer
exclusivity, the 430 Scuderia 16M is a
limited edition convertible version of
the Scuderia Coupé. Limited to 499
cars worldwide, and with only 39 right
hand drive cars for the UK market, the
16M is set to become a future classic.
However, one that requires a £200k
plus investment now!
Ferrari F430
Coupé and
Spider
24
average VALUE [F430 Coupé]
average VALUE [F430 SPIder]
average VALUE [F430 SCUDERIA]
£170,000
£0
£85,000
£42,500
£127,500
2005
(11,000 miles)
2006
(8,500 miles)
2007
(4,500 miles)
2008
(2,500 miles)
2009
(400 miles)
£170,000
£0
£85,000
£42,500
£127,500
2005
(10,500 miles)
2006
(7,500 miles)
2007
(5,500 miles)
2008
(2,000 miles)
2009
(500 miles)
£170,000
£0
£85,000
£42,500
£127,500
2008
(1,500 miles)
2008
(500 miles)
MARKET
AVERAGE
TRADE BOOK
VALUE
TRADE VALUE ADJUSTED
FOR MILEAGE
SUTTON MARKET
PRICE
MARKET
AVERAGE
TRADE BOOK
VALUE
TRADE VALUE ADJUSTED
FOR MILEAGE
SUTTON MARKET
PRICE
MARKET
AVERAGE
TRADE BOOK
VALUE
TRADE VALUE ADJUSTED
FOR MILEAGE
SUTTON MARKET
PRICE
25. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
Values
Early F430 prices are edging closer to
the magic £70k mark. These cars will
be showing around 11,000 miles on
the clock. That’s over half what you’d
expect from a comparable Porsche,
while a same-year Bentley will have
covered three times as many miles.
You shouldn’t necessarily fear higher-
mileage F430s. There are less of these
around. Just make the necessary price
adjustments. And, with any model
you’re looking at, always get a full
technical report.
Coupé buyers seem a bit more
optimistic in their pricing than Spider
buyers. Perhaps they’re looking at the
open car and not realising the gap is
as large as it is. This means you should
weigh up values carefully when you’re
searching for used cars - using my Clive
Sutton Market Price as your benchmark.
The Spider also costs more when
new, which will always be partly
reflected in the second hand price.
I always remind buyers that these
cars really need exercise. They demand
to be driven. A number of owners do
track days, and actually have an extra
set of wheels and tyres dedicated to
these. There are number of companies
that arrange track days, not least
the manufacturer itself. If you are
principally an urban driver, there is no
better way to engage with the potential
of a Ferrari than on a track.
For me, that’s why the Scuderia is
the way it is - that bit rarer, more
stripped out and special.
You can mark down cars that lack
expected options. These include the
Scuderia front wing shields, while
optional Daytona electric seats are
more popular than the bucket-like
sports seats. You can even get a road-
legal road cage - believe me, there
is demand for cars with this feature!
Racing harnesses can be specified in
lieu of seat belts, but restrict reach to
some of the central controls.
Asking prices are more realistic for
the more modern versions. A 2007
Modena coupé can easily be found for
under £100k, which suddenly is a very
tempting buy indeed. Even two year
old Spiders are now available at around
the £100k price point.
Things to consider
2005-2007 F430 Spiders were•
recalled, to replace convertible top
hydraulic hoses that could crack
due to engine heat. Fluid leakage
would cause the dashboard warning
light to flash - but, if untreated,
could result in fluid leaking onto
the engine, causing a fire. Cars
were recalled from March 2009
Manual models were recalled to fix•
a problem with the clutch pump,
which could lead to fluid leakage.
Ferrari franchised dealers repaired
the fault from early 2007
Dents or scrapes can be expensive•
to repair on the aluminium panels
Worn out clutches in F1•
transmissions are usually caused by
people wrongly trying to drive in
auto mode as a fully automatic car
Multiple owners on V5 caused by•
‘cloak and dagger’ re-sales, where
the original owner has sold the car
on delivery and does not want to be
seen to have sold it on in case he/
she is ‘out of favour’ with Ferrari.
The market suffers, as it is not
uncommon for a three year old car
to have five or six recorded keepers
Check length of warranty on 2007•
cars as the new car warranty
increased from three to four years
from around March 2007
Ferrari F430
Coupé and
Spider
25
average running costs
“...NO other car offers the sense
of occasion a Ferrari does...”
INSURANCE1 INSURANCE
NO CLAIMS2
EXTENDING
WARRANTY3 SERVICING4
F430 COUPÉ
KEY
1. based on male, 45yrs of age, with no previous claims and vehicle is kept in garage
2. based on maximum no claims bonus of 70%
3. based on 12 months
4. based on assumption that new tyres are included in the service every two years
£9,000
£0
£4,500
£2,250
F430 SCUDERIA F430 SPIDER
£6,750
26. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
Ferrari 599
GTB Fiorano 26
Clive Sutton
Market Price
from £160,000
(typical 2006 model,
3,000 miles)
T
he 599 GTB Fiorano is one of
the best ever GT supercars.
Brilliantly engineered,
stonkingly quick, it’s even
fitted with a detuned version of the
famed 6.0 litre V12 Enzo engine. This
produces a staggering 620 bhp. The 0
to 60 time of 3.7 seconds is about the
fastest of any production car.
The 599 is a strict two-seater,
sharing the same aluminium chassis
as the 612.
It is important to note, though,
that the F1 shift was much improved
in the 599.
It was introduced to replace the
mighty 575M Maranello, and was
unveiled in 2006. The ‘599’ refers to
the engine’s total displacement, and
that fantastic engine power output
makes it Ferrari’s most powerful
series model ever.
It is the brand’s two-seat flagship,
and has long been in demand: even
Christiano Ronaldo drove one - well,
he did, until he famously crashed it…
Morerecently,Ferrarihasdeveloped
a ‘Handling GT Evoluzione’ upgrade
package. This new chassis setup is
stiffer and sportier, with new hi-tech
tyres fitted to a stand-out design of
20-inch alloy wheels.
The exhaust is louder and even
more beguiling; the interior is finished
in carbonfibre, and the gearbox was
improved yet again, with faster shift
times and a smoother action. In all,
it’s a fantastic car, and will be in
much demand.
All this means the 599 GTB Fiorano
is a good second hand buy. With
prices from £150k for low mileage
early cars, these do represent great
value when you consider that most of
these cars changed hands for up to
£270k when new. With the premium
market history, a 2009 Ferrari 599
GTB can be had for around £200k -
that is list price minus £25k rather
than list plus £25k.
As our research into service prices
reveal, servicing these models needn’t
be too onerous, either. It’s insurance
that’s the biggie! It’s twice the price
of a Bentley Continental GT…
A quick word on the Ferrari
California: this is set to be a BIG
hit. New, it costs £145k though
early examples will sell for up to
£170k. Meanwhile, the competitor
Aston Martin’s DBS Volante, with a
list of £170k will struggle to fetch
that level in the market place. It
will be interesting to see how many
traditional Ferrari buyers go for this
new model. I suspect the California
Ferrari 599
GTB Fiorano
27. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
with its additional four-seat capacity
and clever folding hard-top roof
will attract more new blood. For my
money, I would have a used F599 any
day.
Values
For two years of the 599’s life, the
cars attracted a premium, as demand
well outstripped supply. Only since last
April/May did the market slow for the
599, as the credit crunch took hold.
Now, new cars are more readily
available, as there have been a few
cancellations. With new stock cars
disappearing, the order pattern
will revert to lead time, although
it’s unlikely to be as long as in the
beginning of the car’s life.
Looking at 599 GTB Fioranos last
year, an early car was on offer for
around £135-£140k - perfect money,
perfect car. Prices have hardened
now meaning my Market Price is from
around £160k. It’s serious cash, but
this is a serious ‘Level 2’ car, whose
profile has been raised by all the stars
and celebrities that are driving around
in one at the moment.
As mentioned, when it comes to
servicing and running costs, buyers
shouldn’t fear Ferrari when under
the manufacturer’s warranty. The
brand is much more affordable in this
respect than many think. Porsches
are notorious for being relatively
affordable in their first few years
but come with a measly two year
warranty. Ferrari in contrast, provides
double the warranty and has, by
supercar standards, relatively sensible
maintenance costs.
Things to consider
All cars from January 2008 should•
have carbon ceramic brakes, which
were previously a compulsory cost
option on all UK cars
Watch out for sports seats and•
driving harnesses. OK if you
are planning a track visit, but
otherwise the Daytona seats are
most comfortable
Check the options:•
F1 Superfast gearbox is--
£5k, but a must have
Rear parking sensors again--
are optional
The LED steering wheel is very--
cool and a must have option
Optional Monolithic 20” rims are--
also a must have
Check length of warranty on 2007--
cars as the new car warranty
increased from three to four
years from around March 2007
Ferrari 599
GTB Fiorano 27
average VALUE
average running costs
£200,000
£0
£100,000
£50,000
£150,000
2007
(3,500 miles)
2008
(1,500 miles)
2009
(200 miles)
KEY
1. based on male, 45yrs of age, with no previous claims and vehicle is kept in garage
2. based on maximum no claims bonus of 70%
3. based on 12 months
4. based on assumption that new tyres are included in the service every two years
INSURANCE1 INSURANCE
NO CLAIMS2
EXTENDING
WARRANTY3 SERVICING4
£9,000
£0
£4,500
£2,250
£6,750
MARKET
AVERAGE
TRADE BOOK
VALUE
TRADE VALUE ADJUSTED
FOR MILEAGE
SUTTON MARKET
PRICE
28. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
Ferrari 612
Scaglietti 28
Clive Sutton
Market Price
from £75,000
(typical 2004 model,
25,000 miles)
T
he 612 Scaglietti is one
of my all-time favourites.
From the space inside, the
extra room in the back, the
way it genuinely provides full four-
seater capacity… well, it’s just an
extremely well rounded motor car.
The blend of performance with luxury
enables it to do so much, so very well
indeed. Mind you, the boot, although
ample compared to other Ferraris, is
woefully small for four people.
When it was launched in 2004, it
proved to be a more controversial
design than its predecessor, the
456GT, which was a beautiful and
much admired Ferrari. The 612,
though, is a big step forward in terms
of quality. The 5.7-litre V12 engine
is surprisingly refined and produces
540bhp.
A lot of the controversy surrounded
its size; the Scaglietti is significantly
larger than the 456M it replaced,
though the obvious benefits here
are all that extra passenger space.
Indeed, this helped Ferrari broaden
the market for this machine, with
its newfound GT credentials helping
more people justify it.
The Scaglietti is produced entirely
from aluminium, which means it
is relatively lightweight for such a
commodious four-seater. This helps
handling agility no end, with the 612
offering a good drive that fully lives
up to the Ferrari ideal, particularly
in later versions. Performance from
the mighty V12 is also substantial: it
can top 195mph, and accelerates to
60mph in just 4.0 seconds.
Typically for Ferrari, both six-speed
manual and semi-automatic F1 shift
gearboxes are available; the latter
by far outsells the former. A regular
automatic is unavailable.
Drivers can be a bit disappointed by
the F1 semi-auto gearbox in the 612.
They expect a full auto, with torque
convertor, but the F1 is different.
Basically, it can roll back on hills! I
know of at least two accidents caused
by drivers who have been caught
out by this and, done just that. An
expensive mistake caused simply
because nobody taught them how to
drive it!
From 2007, the F1 gearbox was
improved, and the HGTS handling
pack* made available. Both these
really transform the car. Later in
2007, the big screen navigation
and Bose sound system really
complete the improvements, and
make the 612 Scaglietti the ultimate
four seater GT coupé.
Ferrari 612
Scaglietti
* HGTS pack includes upgraded
F1-S gearbox, upgraded exhaust
and larger alloy wheels
29. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
Overall, it appeals to people who
want a big, classic V12 coupé, but also
want something a step beyond the
Bentley Continental GT. It’s a level
above, say, an Aston Martin DB9. In
terms of market position, only the
Bentley Brooklands seeks to offer a
four-seater coupé at a similar price, but
of a completely different character. The
now discontinued Aston Martin Vanquish
was the most similar in this respect.
Surprisingly, sellers are a little less
optimistic than the norm, with asking
prices edging closer to £70k. Reflecting
the early adopter status, earlier 612s
have covered higher average mileages
than later ones.
Values
A £75k, 2004, 612 Scaglietti will have
around 25,000 miles on the clock - but,
given how the cars we researched in
this report are advertised sometimes
below this, buyers could even get one
for closer to £70k.
That would be a very attractive buy,
bringing it into the reach of those
who may otherwise be considering a
slightly newer Bentley Continental GT.
This also has the four-seat capacity,
and would prove almost as practical
but for the Bentley’s larger boot.
With traditionally higher servicing
costs for V12 models, Ferrari is also
realistic in the rates it charges - and
is even experimenting with service
packages. This is where owners pay a
set amount each month for servicing,
rather than taking big annual hits. It’s
something I offer too at Clive Sutton,
and is a sensible thing for owners to
consider.
The big hit will be insurance.
There’s no avoiding this - Ferraris are
Ferraris, and the insurance industry
will always view them a certain way.
They are higher-value cars that are
more expensive to repair if damaged,
and are also much higher performance
cars, even compared to a Bentley
or a Porsche. They are serious drivers’
machines, and will be driven as such
- with all the inherent extra risk
this brings.
Things to consider
612 models with the F1 gearbox•
built between 2005-2007 were
recalled. A faulty sensor could
cause difficulties in engaging gears
- a fault identified by a warning
light showing on the dashboard.
The recall began from May 2008
Ferraris are expensive to insure;•
this is both because there’s more
risk to them from vandals, and the
type of driver they attract; 45-
60 year olds, who perhaps don’t
have the experience of such a
performance machine
Check length of warranty on 2007•
cars as the new car warranty
increased from three to four years
from around March 2007
Ferrari 612
Scaglietti 29
average VALUE
£160,000
£0 2004
(25,500 miles)
£80,000
£40,000
£120,000
2005
(18,000 miles)
2006
(6,500 miles)
2007
(4,500 miles)
2008
(1,500 miles)
2009
(250 miles)
average running costs
INSURANCE1 INSURANCE
NO CLAIMS2
EXTENDING
WARRANTY3 SERVICING4
KEY
1. based on male, 45yrs of age, with no previous claims and vehicle is kept in garage
2. based on maximum no claims bonus of 70%
3. based on 12 months
4. based on assumption that new tyres are included in the service every two years
£9,000
£0
£4,500
£2,250
£6,750
MARKET
AVERAGE
TRADE BOOK
VALUE
TRADE VALUE ADJUSTED
FOR MILEAGE
SUTTON MARKET
PRICE
30. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS Porsche 911 30
Clive Sutton
Market Price
from £32,000
(typical 2004 model,
36,000 miles)
P
orsche makes the most
useable, practical supercars
out there. If you’re looking
for the best day to day
choice, you can’t beat it.
The accommodation of a 911 is
fantastic - my wife has one, and she
has no problem fitting the kids in the
back. The feel of the materials, the
fit and finish, the solid slam of the
doors all ooze class. It’s this very
quality that is bringing people back
to the brand, after they switched
into the first Aston Martin V8s. They
want the feel of a 911 back - and only
a 911 can provide that.
The Carrera Coupé is seen as the
daily driver of the two models. It’s so
dependable, and this is why people
willinglyputsomanymilesonit.Porsches
soak up anything you throw at them,
and are simple to drive, manoeuvrable,
good in traffic - they do it all.
Indeed, it’s perfectly normal for
Porsches to cover more than twice
the annual mileage of say a Ferrari.
Disappointingly, the new car
warranty offered by Porsche covers
just two years. Even Ferrari offers
four year warranties on new cars!
With two year service intervals too,
the running costs for the first two
years are minimal… but after this,
costs rise steeply with the purchase
of a warranty and a major service…
There’s not a huge difference in
price and perception between Coupés
and Convertibles. Later open-top cars
are a few thousand more, but the gap
is minimal for earlier 2004 models. On
Convertibleshoodsneedbecheckedfor
rips as repairs are not always possible,
meaning replacement is often the only
option. Optional hard tops are useful
to have, and transform the 911 for the
winter into a tauter coupé.
Porsche was extremely smart with
the Turbo. The 911(997) Turbo came
along at the time when buyers who
had switched from 911 to an Aston
martin V8 Vantage may have been
looking for another car swap. Here was
just the thing to switch their attention
from Aston Martin back to Porsche,
with a same-price alternative! It’s the
ultimate premium 911, with all the
performance anyone could wish for.
The 911 is not perfect, though.
The PCM navigation system is widely
criticised, and rightly so. It’s much too
complicated to use. Also, Bluetooth
was only available from last year’s
model - before then, it was a SIM
card inserted into the dash. Really,
who carries two SIM cards around
with them? My wife is now driving an
Porsche 911
31. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
£80k car with a £200 Parrot Bluetooth
adaptor stuck into the dash… this just
isn’t acceptable.
This was rectified in 2008, when the
fifth generation model was introduced.
At last, Bluetooth was available, while
the PCM navigation module became a
touch-screen. This was much easier to
use than the autocratic system of the
previous model. Instrumentation was
also improved.
These 2008 cars also had direct
fuel injection, which made them even
more fuel efficient. The economy of
a Porsche is often a genuine surprise
to many owners. These new engines
were yet faster, too - really, any
modern 911 offers a very high level of
performance indeed.
Most Porsches are Tiptronic Autos.
Manuals sell fast when we get them
in, so there is a market - but most feel
the Tiptronic is so good, you don’t
need a manual.
The PDK*, however, did not have
such a good reception when it was
launched to the market in 2008. It
suffers from the age-old semi-auto
antipathy and there are grumbles
over the set-up of the buttons on the
steering wheel. Porsche owners are
a traditional bunch - if something’s
new, it takes them a while to get used
to it. Saying that, though, things have
settled down. The dual-clutch set-up
really is very good indeed.
More debatable are the Audi-style
LED running lights that mark out
many of these 2008 cars. They’re
unnecessary. It’s Porsche me-too-ism;
just because Audi has them, then
it doesn’t mean Porsche has to as
well…
It’s good to see common sense has
prevailed with the silly UK/C16/C98
situation. Official UK cars are C16
models; Porsche designate European
specification as a C16 vehicle.
average VALUE [911 Carrera 2 Coupé]
average VALUE [911 Carrera 4 Coupé]
average VALUE [911 TURBO]
Porsche 911 31
£120,000
£0 2004
(33,500 miles)
£60,000
£30,000
£90,000
2005
(26,000 miles)
2006
(23,500 miles)
2007
(15,000 miles)
2008
(6,500 miles)
2009
(4,000 miles)
£120,000
£0 2004
(31,000 miles)
£60,000
£30,000
£90,000
2005
(29,000 miles)
2006
(20,500 miles)
2007
(14,500 miles)
2008
(6,500 miles)
2009
(1,500 miles)
£120,000
£0 2004
(32,000 miles)
£60,000
£30,000
£90,000
2005
(33,000 miles)
2006
(12,500 miles)
2007
(12,000 miles)
2008
(5,000 miles)
2009
(650 miles)
MARKET
AVERAGE
TRADE BOOK
VALUE
TRADE VALUE ADJUSTED
FOR MILEAGE
SUTTON MARKET
PRICE
MARKET
AVERAGE
TRADE BOOK
VALUE
TRADE VALUE ADJUSTED
FOR MILEAGE
SUTTON MARKET
PRICE
MARKET
AVERAGE
TRADE BOOK
VALUE
TRADE VALUE ADJUSTED
FOR MILEAGE
SUTTON MARKET
PRICE
* Porsche DroppetKupplung – a new twin clutch automatic transmission
32. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
Hisorically the official network
shunned “imported C16” vehicles but
no so anymore. Porsche dealers were
bloody-minded about imports for a
while sucking in through their teeth
when it came to service time, but
we’re seeing less of that now as they
need the work! Good thing too, for
they’re all the same car!
Then there are “C98” vehicles.
They may not be entirely European
specification but can be right-hand
drive. These vehicles should be
checked carefully to identify the
intended supply market. Generally
valued down a little against a C16/
UK car. Once a few years old, I don’t
see any real difference between these
variants and don’t value cars any
differently as a consequence. At this
point condition and service history
become the most important criteria.
Values
The Porsche 911 is not only the most
useable car here; it’s also the cheapest
to buy. You can pick up a 2004 911
Coupé for £32,000-£34,000. Sure, the
market reckons these cars are worth
nearly £37,000, but you don’t want to
be paying that. My Clive Sutton Market
Price is a much more realistic price.
For buyers, the difference between a
Two-wheel drive Carrera 2 (later, just
called Carrera) and four-wheel-drive
Carrera 4 is not important. This is
reflected in the prices - in that, there’s
little difference between the two. I’m
with the market here, and don’t value
the two any differently - where I do,
it’s only by small amounts.
What IS important, though, is
whether it’s an S or not! Buyers may
not be bothered about the 2 or the
4 - but they do want to know whether
it has four exhausts, and the extra
power of the 3.8-litre S. This is where
confusion comes in.
See, Porsche has not done itself
any favours with the auto, by calling
it Tiptronic S. Last year, we correctly
advertised a Carrera 2 Tiptronic S
- only to have a buyer disappointed
that it wasn’t, well, a C2S. What they
should have been looking for was a
C2S Tiptronic S, not a C2 Tiptronic
S. Confused? You’re not the only
one! Really, it’s a silly situation that
Porsche should put right.
The Turbo is a tangible buying
proposition. The step up is not huge:
you can get a 2007 model for sub-
£70k, which really does give a lot of
car for the money. I can only see its
popularity increase, as used buyers
realise just how affordable this high
performance machine is.
We’re again back to black and silver
when it comes to colours. Don’t,
whatever you do, choose red. For the
non-S cars, I’ve seen a few dark blue
models, which seems to work well;
it suits the less sporty nature of this
model. The S really does work well in
dark grey too.
average VALUE [911 Carrera 2 cabriolet]
average VALUE [911 Carrera 4 cabriolet]
Porsche 911 32
£120,000
£0
£60,000
£30,000
£90,000
2005
(26,000 miles)
2006
(22,000 miles)
2007
(11,500 miles)
2008
(6,500 miles)
2009
(500 miles)
£120,000
£0
£60,000
£30,000
£90,000
2005
(26,000 miles)
2006
(22,000 miles)
2007
(11,500 miles)
2008
(6,500 miles)
2009
(500 miles)
MARKET
AVERAGE
TRADE BOOK
VALUE
TRADE VALUE ADJUSTED
FOR MILEAGE
SUTTON MARKET
PRICE
MARKET
AVERAGE
TRADE BOOK
VALUE
TRADE VALUE ADJUSTED
FOR MILEAGE
SUTTON MARKET
PRICE
33. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
Aston Martin
V8 Vantage
333BACK TO CONTENTS
Upgraded wheels are popular on
Porsches, but it’s only worth paying
extra for the Porsche-sourced ones.
For example, a Carrera running on
Porsche supplied 19” forged Turbo
style alloy wheels. Many aftermarket
wheel/tyre packages are not up to
the job and devalue the car. If you are
keen on a car with non-standard rims,
make sure then are both TUV (German
standards) approved, and correctly
sized both in offset and inset.
Things to consider
Tiptronic S/Carrera S confusion!•
Read the ad small print carefully
Missed services will prove very•
costly indeed here - you shouldn’t
underestimate the expense if a
service is due
Paltry two-year factory warranty•
Our research shows a big leap in•
insurance costs for the Turbo. Just
because it’s affordable to buy does
not mean it’s comparable with a
Carrera for running costs…
Porsche 911 33
average running costs
average running costs
“Porsche makes the most useable,
practical supercars out there...”
INSURANCE1 INSURANCE
NO CLAIMS2
EXTENDING
WARRANTY3 SERVICING4
911 CARRERA 2 COUPÉ
KEY
1. based on male, 45yrs of age, with no previous claims and vehicle is kept in garage
2. based on maximum no claims bonus of 70%
3. based on 12 months
4. based on assumption that new tyres are included in the service every two years
£7,000
£0
£3,500
£1,750
911 CARRERA 4 COUPÉ 911 TURBO
£5,250
INSURANCE1 INSURANCE
NO CLAIMS2
EXTENDING
WARRANTY3 SERVICING4
911 CARRERA 2 CABRIOLET
KEY
1. based on male, 45yrs of age, with no previous claims and vehicle is kept in garage
2. based on maximum no claims bonus of 70%
3. based on 12 months
4. based on assumption that new tyres are included in the service every two years
£7,000
£0
£3,500
£1,750
911 CARRERA 4 CABRIOLET
£5,250
34. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
Rolls-Royce
Phantom 34
Clive Sutton
Market Price
from £110,000
(typical 2004 model,
34,000 miles)
T
he Rolls-Royce Phantom is,
for me, the ultimate saloon
car - a sort of automotive
Sunseeker yacht! The only
other rival it has is the Maybach,
which may be on the level from a
technology perspective, but in terms
of presence and brand, it isn’t really
in the same league. A Maybach has
no personality; do buyers at this
level really want to be discreet? Do
they really want a model that, to
all intents, looks like a super-luxury
Mercedes S-Class?
The worries caused by the
acquisition of Rolls Royce by BMW
have proved unfounded. The engine
is fantastic. German engineering and
technology have given the Phantom
an enlarged 6.75-litre version of the
7 Series V12, but here it produces
over 450bhp and a huge 531lb/ft of
torque. When mated to the six-speed
transmission, it provides turbine-like
smoothness and discreet, effortless
performance. The ‘Power Reserve’
dial on the dashboard is a unique
feature, and yet another way why the
Rolls-Royce is special.
This car has real authority. Sure, I’m
personally not completely convinced
about the electrically closing rear
doors, but they’re still a feature that
draws people in. It is a large car, but
with the air suspension and precise
steering, it doesn’t feel unwieldy to
drive. Travelling in the car, there is
virtually no noise at all.
Rear accommodation is superb,
with immensely comfortable seats
that really do indulge. The Maybach*
may have airline style upper class
accommodation but it still feels a bit
too much like a Mercedes, and doesn’t
quite have the impression of grandeur
the Rolls does. Both have an extended
wheelbase version available, but it is
the Phantom that could still be self-
driven without the owner looking like
the chauffeur.
The Phantom Drophead was added in
2007. With its optional stainless steel
bonnet and rear teak deck, it looks
like no other. This is no boat when
it comes to handling, with measured
and controlled body roll, and precise
steering. It is just over a foot shorter
than the Phantom and, with a list price
of circa £270–320k, this has taken Rolls
Royce into another price zone.
TheDropheadsharestheelectrically
controlled reverse-hinged doors. The
split boot lid has a dropdown back
panel creating a seat for two people.
Useful for those Ascot or Guards Polo
boot lunches!
Rolls-Royce
Phantom
* For even more leg room the
EWB version is also avialable.
35. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
Both the Drophead and the Fixed Head
Coupé, launched last year, and are still
very new in the market. As they’re also
such low volume models with a very
high price tag, this means they’re a bit
hard to draw trends from.
The Coupé is a very special car,
though. It has a more discreet profile
than the Drophead. It’s utterly
bespoke, with the option of a truly
amazing starlight headlining. It is this
sort of luxury that really draws people
to the cars.
And, if the Phantom is a Sunseeker
yacht, then the Drophead Coupé is its
elegant Riva touring alternative! It’s
an open-top car of impeccable taste
and standards, with only the finest
trims, features and detailing. Yes,
they’re very expensive, but see them
and you can see why.
What’s more, there is still a market
for these very special motor cars…
Values
There’s still fair demand for the
Phantom. Prices have eased back a
little, but as there’s not that many
on the market, they’re still able to
hold up. Last year, you could have got
a 56-plate Rolls-Royce Phantom for
£130k; as an illustration of how things
have tightened; now you need to add
£15k to get the same car.
People will still be willing to pay it,
though, whereas it’s a harder sell for
a Maybach. Particularly tempting are
the earlier cars, which are down to
£110k. This is getting very close to the
£100k threshold of many buyers. I can
see an upturn in demand for the early
Phantoms, as they are cheaper than a
top of the range Mercedes S Class or
Bentley Flying Spur.
Looking at Coupés and Dropheads,
the latter were up to £400k at one
point! Since then, the market for
Rolls-Royce
Phantom 35
average VALUE [phantom drophead Coupé]
average VALUE [phantom saloon]
average VALUE [phantom Coupé]
£300,000
£0
£150,000
£75,000
£225,000
2007
(3,500 miles)
2008
(1,000 miles)
2009
(500 miles)
£300,000
£0 2004
(35,000 miles)
£150,000
£75,000
£225,000
2005
(23,500 miles)
2006
(20,000 miles)
2007
(4,000 miles)
2008
(3,000 miles)
2009
(500 miles)
£300,000
£0
£150,000
£75,000
£225,000
2008
(6,500 miles)
2009
(1,000 miles)
MARKET
AVERAGE
TRADE BOOK
VALUE
TRADE VALUE ADJUSTED
FOR MILEAGE
SUTTON MARKET
PRICE
MARKET
AVERAGE
TRADE BOOK
VALUE
TRADE VALUE ADJUSTED
FOR MILEAGE
SUTTON MARKET
PRICE
MARKET AVERAGE SUTTON MARKET PRICE
36. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
them has dropped. Last year, you’d
pay around £300k; today, you’ll need
to find around £230k to £250k.
The Coupé is newer, and the first
cars which arrived in the market late
in 2008 can be bought for around
£270k if you can find one.
Things to consider
Mainly no servicing costs to•
consider, as all servicing is included
for the period of the four year
warranty from new
A number are used for chauffeur•
drives, and these should be
checked carefully for additional
wear inside
Rolls-Royce
Phantom 36
average running costs
‘...there is still a market for these
very special motor cars…”
PHANTOM DROP HEAD COUPÉ PHANTOM COUPÉ
£6,000
£0
INSURANCE1 INSURANCE
NO CLAIMS2
EXTENDING
WARRANTY3
KEY
1. based on male, 45yrs of age, with no previous claims and vehicle is kept in garage
2. based on maximum no claims bonus of 70%
3. based on 12 months
£3,000
PHANTOM SALOON
37. 3BACK TO CONTENTS
The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3737
Service
maintenance
insight
B
uying a premium car is one
thing, running it is quite
another. Some people are
tempted by attainable
prices, only to be shocked at the
expense of then running these cars.
It is important that you’re fully aware
of the cost implications you could be
taking on.
The first thing I always say to
premium car owners is not to skimp
on servicing. Where possible, always
use a franchised dealer for routine
servicing - certainly if the car is still
within the official warranty period.
Having been both franchised and
independent, I can appreciate the
differences at first hand. There
are many top quality independents
and, certainly for older cars out of
manufacturer’s warranty, many can
provide excellent attention.
However, the value of a used
specialist performance car is
supported by evidence of a strong
service history. It is official stamps
early on in the service book that are
going to support the best possible
value for the age.
Using a specialist may save a little bit
of cash; but really, it could be a false
economy if you’re not careful.
One immediate reason is that it will
be worth less when you sell it - the
market will mark it down from the lack
of official service history. But another
reason is the thinking behind why it’s
marked down. Take recalls, for instance.
Manufacturers can issue official ones,
where the owner is contacted and
asked to visit a dealer. Often, these are
actioned at the time of a service.
However, there are also ‘technical
service bulletins’. These are updates
to be carried out when cars come
back for servicing - but the owners
are not directly instructed to visit the
dealer. Only cars actually presented
to franchised dealers, will have this
carried out.
The next-best compromise,
looking forward, is for owners to
use a combination of specialist and
franchise services. Dipping in and out
of the official network ensures cars
still get fairly regular updates from
the computers, for example.
Our research into servicing costs
is illuminating. We contacted official
dealers for each brand, and averaged
out the prices for each. It reveals
that Porsche followed by Aston Martin
are the cheapest brands of all. This
may surprise some, but backs up the
company’s desire to be considered
more mainstream.
Ferrari is more expensive, but again,
not fearsomely so. This may also be a
surprise to some - big bills shouldn’t
be feared here, either.
Also, the new car warranty for
Porsche is just two years; exactly half
that offered by Ferrari. When you
factor in the cost of two additional
years of warranty the gap between
these brands for service/warranty
over four years is a lot smaller than
you would think.
Bentley takes the middle ground, as
we may expect. There are no nasty
surprises here though, adding weight
to the GT’s claim of being a more
everyday supercar. There is, however,
quite a big difference between the
servicing costs of ‘old’ and ‘new’
Bentleys. This is only to be expected,
and shouldn’t be a problem (or too
much of a surprise) for the respective
owners of each.
Needless to say, insuring a Ferrari
is very expensive. It’s that sort of
car, which can attract the wrong sort
of attention. Repairing it will prove
expensive, both from vandalism, and
accident damage caused by their
trickier-to-drive nature.
Once again, Aston Martin is
surprisingly affordable to insure,
while Porsche and Bentley are more
level-pegging. Open cars are pricier
than coupés in most instances, simply
because they’re less secure and can
be at risk from vandals.
Buyers should note, though, that
while the Porsche 911 Turbo Market
Price is tempting, the insurance cost
could be more prohibitive! However,
the flipside is that it doesn’t cost
appreciably more to service and run
than a normal 911.
Once you get past the short official
warranty issue, buying a warranty for
a Porsche is actually quite affordable.
This is because they’re so reliable and
dependable. They just don’t go wrong,
and warranty providers know this. The
downside here is that the first policy
purchase is at just 24 months old,
whereas Aston is at 36 months and
Ferrari is at 48 months. The Aston is a
bit more expensive here - interesting,
how the affordability seen in other
areas is reversed a little... suggesting
warranty companies know they’re a
bit more problematic?
Ferraris are significantly more
Service
maintenance insight
38. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
expensive. This isn’t because they’re
less reliable. But because the risk of
failure, and the cost of repairing one,
is that much higher. The fact that so
many Ferraris use the F1 paddle-shift
semi-automatic gearbox could be an
influence here, as many are damaged
by drivers expecting a fully automatic
transmission, even though many
extended warranties will exclude
clutch repair from their plans…
Speaking of Ferraris, they eat
batteries. This is a particular problem
for the Italian sports cars, but all
cars of this type are affected. That’s
because of the limited use they often
receive. Most cars have an optional
battery conditioning device; these
plug into the mains and trickle-feed
batteries. They’re well worth having;
we recently had a Scuderia in that
needed a three-day battery charge at
Ferrari, just to get a warranty claim…
Looking forward, I’d expect service
plans to become more popular,
particularly on second hand cars.
They’re something we plan to offer
here at Clive Sutton. It means that,
instead of factoring in £10k for a few
years’ servicing, the buyer can add
£10k to the purchase price. Many
finance companies will add this to the
monthly payment loan - which means
owners pay a few hundred pounds
extra for routine servicing.
This is a bit like budgeting - paying
up front and spreading the cost over
finance and guarantees a car will
have a proper maintenance record.
This alone can pay for itself… but it
also means the owner won’t have any
nasty bills to worry about. Everything
is accounted for up front. It’s a simple
‘return to base’ annual element that’s
already pre-arranged and sorted up
front. This is why I expect them to
become more commonplace.
After all, a huge stumbling block for
buyers new to this sector is fear of
running costs. Plans like these ensure
against large bills and spread the cost.
Turning to the cars themselves, you
should be wary of non-manufacturer
supplied parts. A number of wheel
companies offer ‘wheel and tyre’
upgrades for many of these cars. There
are very few I could recommend, as
many are wrongly sized either for
rolling radius, offset or inset. That’s
quite apart from the quality and
potential product liability. The German
‘TUV’ approval helps to confirm which
products are manufactured to a
standard equivalent to OEM rims.
It’s the same for performance
exhausts, another fairly common
finding. There are companies such as
Quicksilver who produce a range of
high performance exhaust products,
which can compliment a car without
compromise.
Be wary of any ECU re-mapping
engine ’chip performance’ upgrades,
as these change the fuelling map and
can be more trouble than they are
worth. Any such modification should
be capable of a ‘return to standard’,
so that fault finding can be focused on
the OEM equipment separately from
the tuning programme.
38
Service
maintenance
insight
39. 3BACK TO CONTENTS
The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
39
W
e all have our favourites
– but Clive Sutton is a
performance enthusiast
better placed than
most, to pick the top cars. Here,
he’s looked at the complete picture,
including buying and running them, to
pinpoint the cars that really should be
high on your shopping list.
Long-term buys
Porsche 911(997) C2S Cabriolet•
Many buyers prefer the 911 in
Convertible form, and the C2S is
the all-round pick of the bunch.
Bentley Continental GT• It’s the
consummate all-rounder, and
exceedingly dependable.
Rolls Royce Phantom• It’s the
ultimate statement; on the
rational side, free servicing and
BMW engineering eases long-term
worries.
Ferrari 430 Scuderia 16M Spider•
A raw, extreme, sensational car to
drive, less than 40 for UK market.
One to use on (and to) the track
– or, box one away now and, in
years to come, you’ll be pleased
you did…
Short-term buys
In this economic climate, there are
no recommendations for buying and
flipping. The premium market is all but
gone, so if you buy it and don’t like it,
you will pay a chunk in depreciation.
Ones to tuck away
Aston Martin One 77• Just 77 £1m
examples built to spec! Pricey, yes,
but like no other…
Bugatti Veyron• Ultimate £1m road
supercar. World-famous, a Clarkson
favourite, and a definite keeper.
Mercedes-Benz McLaren SLR•
roadster Final offspring of
marriage of F1 builder and MB.
Lewis Hamilton factor only adding
to its desirability. Short term
heavy depreciator, but while no
aluminium Gullwing, I think will be
a long-term investment.
Ford GT• The highly successful
2004 resurrection of the 1960s Le
Mans-winning Ford GT40. The one
to have is the Heritage version, in
the famous Gulf livery.
Best to drive
Ferrari 599 GTB Fiorano• Practical,
comfortable, GT Coupé – and very,
very fast. The best V12 car you can
buy (well, apart from the Enzo).
Now available with £20k HGTE
handling kit.
Ferrari 430 Scuderia• This is a
cult icon in Ferrari circles; once
you’ve driven it, you’ll completely
understand why.
Porsche (997) GT3 RS• It’s
bulletproof, and a car you’ll never,
ever tire of driving – the perfect
combination of values.
Bentley Continental GT Speed• All
the Continental GT core values,
with added speed and focus, too.
39Clive Sutton’s
top cars
Clive Sutton’s
top cars
ROLL ROYCE PHANTOM
BUGATTI VEYRON
BENTLEY CONTINENTAL GT SPEED
FORD GT
40. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
Hottest coupés
Bentley Continental GT Speed•
More involving than GT and
toweringly quick.
Aston Martin DBS• Slightly used
and off the list price. New price
too high.
Aston Martin Vantage V12•
Stonking but expensive at £135K
plus options.
Porsche911(997)Turbo• Acomplete
everyday hypercar package.
Investment cars
Ferrari 430Scuderia16MSpider• It’s
very pricey, yes. But it’s guaranteed
to pay that back to you.
Porsche 911(997) GT3• Few ever
lose out when buying a GT3. It will
always remain the definitive 911,
particularly the RS version.
Alfa Romeo 8C Competzione• Not
the best to drive – but who cares?
It looks simply out of this world. In
50 years’ time, this will be setting
the auction halls alight…
Clive’s cool hunter -
what is hot and not
in the here and now…
£30k: Audi A5 convertible• If
Bentley builds a recession-beater,
it will base it on this. I can see
why; it’s a beauty!
£40k: Audi TT RS BMW M3• Both
these cars are high-image cars
with excellent performance. They
appeal to ‘downtraders’ who still
want something special.
£50k:DodgeChallenger• Everyone’s
heard of the Dodge Challenger.
This modern-day interpretation is
a stand-out and seriously cool.
£60k: Nissan GT-R• Not just a cult,
but a lifestyle; you really should
believe the hype. Playstation
controls with handling and
performance limited only by the
driver.
£70k: Jaguar XKR 5.0 Coupé•
Latest version packs 500bhp. You
can buy a coupé AND a convertible
for less than the price of one Aston
Martin DBS…
£100k: Audi R8 V10• Detuned
Lambo engine offers the most
compelling mid-engined supercar
south of £150k.
£107k: Corvette ZR1 Epic 638bhp•
supercharged V8. Best ever Yank
supercar: Let’s hope Obama spares
it the chop!
£145k: Ferrari California• The
‘in’ car of the moment, it’s a
reinvention for Ferrari, and is going
to do absolutely fantastic business.
The only new car currently selling
at a premium. Expect to pay circa
£180k to drive today.
Affordable star: Volkswagen Golf•
GT MK VI The real-life performance
icon, that’s just as cool as a 911,
in a similarly understated way. A
rightful icon from £23k.
40Clive Sutton’s
top cars
DODGE CHALLENGER
VW GOLF GT MK VI
ALFA ROMEO 8C
ASTON MARTIN DBS
41. 3BACK TO CONTENTS
The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
41
H
ere, Clive has looked into the
future, for the cars coming
up that will be the focus
of premium car buyers in
coming years. Which are the ones that
will excite the most? Find out here…
Now and the very
near future…
Nissan 370Z
Z-cars used to get worse as they
evolved – from the brilliant 240Z, to
the underwhelming 300ZX. With the
370Z, it’s the other way around. Initial
reports tell me that it’s a fantastic car.
Every inch the junior GT-R.
BMW Z4
BMW has widened the appeal of the
Z4, by giving it a folding hard-top. I’ve
already had enquiries – interestingly,
from Mercedes SL buyers looking to
trade down. It looks a good car that
should do good business.
Fiat 500C
Surprised to see the baby Fiat on the
list? Well, if you’re a Ferrari buyer after
a second or third car, it’s the ideal
choice – especially with that clever
open roof. I’ve already had enquiries,
and will be sourcing them…
Ferrari California
This is going to do terrific business for
Ferrari. It’s the most driveable Ferrari
ever, has rear seats (even if they are
token), a good auto, a folding hard-top:
it’s already incredibly sought after, and
rightly so.
Lexus RX
These do big business in London,
because of the congestion charge
exemption. This one is bolder and
even more economical.
Audi S5 Convertible
Bentley has said that if the current
crunch continues, it will have to look
into basing a model on the Audi A5.
When the brand is producing cars as
attractive as this, you can see why.
With the S5, the open BMW M3 has a
serious rival for the first time.
Lotus Evora
Lotus has been a one-model car for
too long. But the name still carries so
much currently, the Porsche Cayman-
rivalling Evora should do well. At
under £50k, the money is right, if
the reality is right.
Mercedes E-Class
There will always be a market for the
traditional, sensible Mercedes. From
what I’ve seen, this car goes back
to the luxury, sober-suited approach
the company does so well, and thus
should prove popular
Lexus IS Convertible
A folding hard-top roof makes this a
rival to the BMW 3 Series Convertible.
However, it only has a single engine
choice, and is very much a niche
product.
Audi Q3 4x4
Smaller Audi off-roader should, I
hope, inherit the lines and success of
the Q5. Rather than the less pleasing
appearance of the larger Q7.
41Future focus
Future focus
FERRARI CALIFORNIA
42. The Clive Sutton Luxury Car Market Report Issue 1 – JULY 2009
3BACK TO CONTENTS
Audi TT RS
This really is where the smart money
should go. Rare, fast and with a super
image, it’s going to be hot property.
Porsche Cayenne Diesel
Arguably, the Cayenne that should
have been on sale all along. Generally,
the UK SUV market wants diesels. This
should end up being the best-selling
Cayenne version.
Mercedes E-Class Coupé
Coupe version of the E-Class saloon that
replaces the CLK. More upstanding than
the CLK, it is very elegant, and takes
the car a step upmarket.
Mercedes E63 AMG
AMG versions of the S-series cars are
proving to be the cars of the moment.
The market for high-performance
saloons has dropped off – as weak
sales for the BMW M5 prove – but
the Mercedes should be a better-
all-rounder, to rival the Maserati
Quattroporte.
2009
Audi R8 Roadster
Audi can do no wrong with the R8. It is
the thinking man’s supercar, the socially
acceptable hypercar. Making an open
version can only enhance this.
Bugatti Veyron Gran Sport
The king of the hypercars gets its
roof removed. Likely to be even more
idolised than the coupe.
BMW X1 [v1] 4x4
The X3 has never been seen as a
particularly desirable BMW off-roader.
The X1 could change this, but I don’t
see it being as popular as the more
desirable Audi Q3.
Pagani Zonda F
Pagani is going out with a bang for
the famous Zonda line. These cars are
rare as hen’s teeth, but if you want
the ultimate, there’s really no other
choice…
Porsche Panamera
Porsche enters a new marketplace
with the four-door, four-seat Panamera
coupe-saloon.
2010
Alfa 8c GTA
The incredible Alfa is not great to drive,
but the market doesn’t care. Demand is
still huge. The performance GTA version
will only continue this – question is, will
it be better to drive?
Aston Martin Rapide
The four-door DB9, rivalling the
Porsche Panamera. Hopefully pricing
will be more DB9-like than the
optimistic DBS…
Audi A1
A baby Audi to rival the MINI has been
a long time coming. As a second or
third car, initial demand should be
very high indeed.
Chevrolet Camaro Coupe
My contacts in the US tell me this car is
better-built than a BMW, but a fraction
of the cost. Great performance, fun
to drive and, of course, with million-
dollar looks.
Ferrari F450
Themuch-rumouredF430 replacement
is being kept under such tight wraps,
we’re not even sure of the name yet!
But the market knows it is coming,
and is valuing F430s accordingly. It is
waiting for this…
Ferrari FX hypercar
Will Ferrari make a replacement to
the legendary F40, F50 and F60? An
ultimate supercar, to rival a new
Pagani? If they do, its launch could
be well timed – just as the recession
eases…
Mercedes SLC
Gullwings will be back for Mercedes
next year, when it launches the AMG
Mercedes SLC. It replaces the McLaren-
built SLR, and will cost much less –
around £125k is the estimate. It will
use an AMG V8 with a mighty power
output, and be exceedingly fast.
Expect a teaser model at the Frankfurt
Motor Show this year…
Further afield
BMW supercar
One hotly-debated topic in enthusiast
groups is whether BMW plans to make its
own supercar. The brand would benefit,
as Audi has stolen a march with the
fantastic R8. Given a green twist, I’d say
it could only do them good.
Rejuvenated Corvette
Corvette’s parent company has an
uncertain future, but I’m still sure
the engineers haven’t wavered from
working on future models. They need
to be brought up to date; such is the
popularity of the brand, a 21st century
solution would, I know, find many fans.
Jaguar XE
Jaguar should have made an affordable
couple replacement to the E-Type
years ago. Now, finally, it realises the
market would fight over such a car,
and will hopefully have one out in the
next couple of years.
42Future focus